File image: Suspended Sars boss, Tom Moyane. (File picture: Kurt Engel).

Johannesburg - As reaction continues trickling in over the suspension of disgraced South African Revenue Service (Sars) Commissioner Tom Moyane, the letter President Cyril Ramaphosa wrote informing Moyane of the decision to suspend him has been making the rounds.

The Presidency announced late on Monday that Moyane was "suspended with immediate effect" pending the institution of disciplinary proceedings.

Ramaphosa said that developments at Sars under Moyane's leadership have resulted in a deterioration in public confidence in the institution and in public finances being compromised and that for the sake of the country and the economy, this situation cannot be allowed to continue or to worsen.

The Presidency said that concern was raised in particular about the manner in which Moyane handled the matter of former senior tax officer Jonas Makwakwa and the management of VAT refunds, which had brought the Sars into serious disrepute and potentially jeopardised the integrity of the Sars and adversely affected tax morality among tax payers.

READ MORE: #CyrilRamaphosa suspends SA tax boss Tom Moyane

Mark Kingon has since been appointed as action Commissioner of Sars.

Read Ramaphosa's letter to Moyane below: